Much like this guy..who was never seen again after the Honeymoon
Anyways, Guy briefly became a Red Lantern when he saw fellow Lantern Kyle Raynor get killed during a Black Lantern attack. A red power ring found it's way to his finger and boom..red lantern Fonzie..erm Guy. Long story short he gets saved..kinda but the red essense is still in him...kinda like herpes.
In the newest run in the GL universe, Guy is dealing with his pansy ass issues and discovers he's still got herpes..erm..the red power in him. So at the moment he's flying to the home planet of the Blue Lanterns for a cure..but will he make it?!
I personally hope he doesn't. Him being a Red Lantern actually made him awesome. No more quirky one liners, and no more of his idiotic green lantern leather jacket (available at the Buckle). So please DC Comics..make him a Red Lantern...pweeeeeese?